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1. TRACXN MONTHLY REPORT
FEBRUARY 2022
SWEDEN TECH

2. Sweden Tech - February 2022 Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Contents
2
Sweden Tech Snapshot 3
Investment Snapshot 4
List of Funding Rounds 5
New Investors 7
Top Funded Business Models - last 1 year 9
New Analyst Picks 10
Acquisitions 12
Recent News 13

3. Sweden Tech - February 2022 Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Sweden Tech Snapshot – February 2022
Sweden Tech: Snapshot – February 2022
Note : "Investors" refers to "Institutional Investors" only
3
$333M
6
Overall Geo Stats
12
3
31
11
13
Funding Rounds $ Invested Analyst Picks
Depict.ai Upgraded
to MINICORN
New Investors
WeWork Alumni Fund
WayPoint Capital
Partners
Series A+ rounds Active Investors IPOs Acquisitions
Gunnebo Cash
Management
Workspace Recruit
Top Funding Rounds Top Markets Top Investors Top Cities
Monthly Leader Board
Stockholm
(9 Rounds, $305M)
Gothenburg
(2 Rounds, $24M)
$260M - Series C
Volta Trucks (2019, Stockholm, $330M)
$24M - Series A
Annotell (2018, Gothenburg, $32.0M)
$17M - Series A
Depict.ai (2019, Stockholm, $20.0M)
$11.9M - Series B
Billhop (2011, Stockholm, $20.7M)
EQT Ventures
(2 Investments)
Alfvén & Didrikson
(1 Investments)
Y Combinator
(1 Investments)
Tiger Global Management
(1 Investments)
Electric Vehicles
Volta Trucks
Autonomous Vehicles
Annotell
E-Commerce Enablers
Depict.ai
Finance & Accounting Tech
Billhop
Market Size
Companies Covered 6,715
Funded Companies 2,536
Total Funding $23.3B
Funding in last 12 months $8.6B
Top Exits
IPOs 188
Acquisitions 556
Company Stage
Unicorns 4
Soonicorns 36
Minicorns 176
Editor Picks 815
Series A+ 549
Series C+ 114
Acqui-Hires 1
Deadpooled 399
Top Cities
Stockholm (1,242 Rounds, $17.9B)
Gothenburg (202 Rounds, $1.3B)
Top Investors
Almi Invest (299 Investments)
Sting (88 Investments)

4. Sweden Tech - February 2022 Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Investment Snapshot
Investment Snapshot of Sweden Tech as of February 2022
Sweden Tech: Investment Snapshot
4
# Rounds
$ Funding
Investment Trend Top Investments (February 2022)*
Volta Trucks
(2019, Stockholm, $330M)
$260M - Series C Luxor Capital Group
Annotell
(2018, Gothenburg, $32.0M)
$24.0M - Series A Metaplanet
Depict.ai
(2019, Stockholm, $19.9M)
$17.0M - Series A Tiger Global Management
Billhop
(2011, Stockholm, $20.7M)
$11.9M - Series B EQT Ventures
Fundler
(2015, Stockholm, $6.5M)
$6.5M - Series A
AnaCardio
(2017, , $3.6M)
$3.6M - Series A Karolinska Development
xnomad
(2019, Stockholm, $3.4M)
$3.4M - Seed Luminar Ventures
Holm Security
(2015, Stockholm, $3.0M)
$3.0M - Seed Edastra Venture Capital
Beleco
(2016, Stockholm, $4.2M)
$2.2M - Seed Alfvén & Didrikson
OlsAro
(2020, , $613K)
$613K - Seed Mercari
LEIA
(2021, Stockholm, $600K)
$600K - Seed The Case for Her
*Shows only the lead Investors

5. Sweden Tech - February 2022 Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
List of Funding Rounds (1/2)
List of Funding Rounds in Sweden Tech in February 2022
Sweden Tech: List of Funding Rounds
Note: Seed Stage (Seed, Angel), Early Stage (Series A, Series B), Late Stage (Series C+), PE
5
LATE STAGE
$260.0M - Series C
Volta Trucks (2019, Stockholm, $329.9M)
Developer of electric trucks
Luxor Capital Group, Agility, WayPoint Capital Partners
EARLY STAGE
$3.6M - Series A
AnaCardio (2017, , $3.6M)
Developer of drugs for heart failure treatment
Karolinska Development, LLD Nybohov Invest, Fredrik
Ljungström, Ann-Helene Ljungström
EARLY STAGE
$6.5M - Series A
Fundler (2015, Stockholm, $6.5M)
App-based platform for automated retirement and
pension investment management
EARLY STAGE
$11.9M - Series B
Billhop (2011, Stockholm, $20.7M)
Accounts payable automation and credit card-based
invoice payment solutions for businesses
EQT Ventures, Element Ventures
EARLY STAGE
$17.0M - Series A
Depict.ai (2019, Stockholm, $19.9M)
Provider of AI-based product recommendation
platform for businesses
Tiger Global Management, Initialized Capital, EQT
Ventures, Y Combinator
EARLY STAGE
$24.0M - Series A
Annotell (2018, Gothenburg, $32.0M)
AI and Saas-enabled platform offer training data for
autonomous vehicles
Metaplanet, NordicNinja VC, Stena Sessan, Ernström
SEED STAGE
$600.0K - Seed
LEIA (2021, Stockholm, $600.0K)
Provider of app for postpartum recovery information
The Case for Her, Fast Track Malmo, Crista Galli
Ventures, , Erik Engellau Nilsson, and 2 more
SEED STAGE
$612.9K - Seed
OlsAro (2020, , $612.9K)
Developer of salt tolerant wheat using GMO
technology
Mercari, GU Ventures, East Coast Capital Corporation,
Peter Rundlöf
SEED STAGE
$2.2M - Seed
Beleco (2016, Stockholm, $4.2M)
Online rental platform offering home furnishing
products
Alfvén & Didrikson, VEQ, Almi Invest

6. Sweden Tech - February 2022 Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
List of Funding Rounds (2/2)
List of Funding Rounds in Sweden Tech in February 2022
Sweden Tech: List of Funding Rounds
Note: Seed Stage (Seed, Angel), Early Stage (Series A, Series B), Late Stage (Series C+), PE
6
SEED STAGE
$3.0M - Seed
Holm Security (2015, Stockholm, $3.0M)
Cloud-based vulnerability scanning of enterprise
network, website, and risk assessment
Edastra Venture Capital
SEED STAGE
$3.4M - Seed
xnomad (2019, Stockholm, $3.4M)
Online marketplace for short term retail spaces
Luminar Ventures, WeWork Alumni Fund, PropTech
Farm, Joachim Hedenius
SEED STAGE
Seed
3ngage (2016, Gothenburg)
Provider of a 3D, VR, and AR product visualization
solution
Cooach
SEED STAGE
Seed
Arro (2021, Stockholm)
Cloud-based suite solutions for enterprise
collaboration
InReach Ventures

7. Sweden Tech - February 2022 Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
New Investors (1/2)
List of New Investors in Sweden Tech in February 2022
Sweden Tech: List of New Investors
7
Investor Company Info Round Amount Round Name
WeWork Alumni Fund
1 portfolio companies | Portfolio | WeWork Alumni Fund
xnomad
Online marketplace for short term retail spaces
$3.41M Seed
WayPoint Capital Partners
2 portfolio companies | Family office focused on satellite & cable related
startups
Volta Trucks
Developer of electric trucks
$260M Series C
LLD Nybohov Invest
1 portfolio companies | Venture capital fund focused on healthcare and multiple
sectors
AnaCardio
Developer of drugs for heart failure treatment
$3.58M Series A
Mercari
2 portfolio companies | P2P mobile first marketplace for multi-category
products
OlsAro
Developer of salt tolerant wheat using GMO technology
$613K Seed
Metaplanet
29 portfolio companies | Venture capital firm focused on biotech, healthcare,
crypto, and transportation
Annotell
AI and Saas-enabled platform offer training data for autonomous
vehicles
$24.00M Series A
nyfiknainvesterare.se
1 portfolio companies |
LEIA
Provider of app for postpartum recovery information
$600K Seed
jneinvest.se
1 portfolio companies | Du har en stor idé. Vi gör den större. - JNE Invest
Fundler
App-based platform for automated retirement and pension investment
management
$6.51M Series A
Cooach
1 portfolio companies | Cooach Business Support – By Cooach
3ngage
Provider of a 3D, VR, and AR product visualization solution
Undisclosed Seed
PropTech Farm
2 portfolio companies | PropTech Farm - Expertise in real estate, tech and
finance in the Nordics and S.E. Asia
xnomad
Online marketplace for short term retail spaces
$3.41M Seed
East Coast Capital Corporation
1 portfolio companies | East Coast Capital Corporation | Mortgages | Refinance
| Melville, New York
OlsAro
Developer of salt tolerant wheat using GMO technology
$613K Seed

8. Sweden Tech - February 2022 Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
New Investors (2/2)
List of New Investors in Sweden Tech in February 2022
Sweden Tech: List of New Investors
8
Investor Company Info Round Amount Round Name
The Case for Her
2 portfolio companies | Venture capital firm focused on menstruation and
female sexual health sectors
LEIA
Provider of app for postpartum recovery information
$600K Seed
Tiger Global Management
888 portfolio companies | Venture capital firm focused on internet, software,
consumer, and financial technology industries
Depict.ai
Provider of AI-based product recommendation platform for businesses
$17.00M Series A

9. Sweden Tech - February 2022 Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Top Funded Business Models - last 1 year
* Rank is based on $Invested in last 1 year in the Business Model. ▲- Indicates change in Rank from previous 1
year.
9
Rank Business Model $ Funding # Rounds Top Funding Round
1 ▲2 Lithium Ion Batteries $2.8B 1 Northvolt | $2.8B | Unattributed
2 ▼-1 Internet First Point of Sale Financing $1.7B 4 Klarna | $1.0B | Series H
3 ▼-1 Retail Stores Shopper Financing Platforms $1.7B 4 Klarna | $1.0B | Series H
4 -- Electric Car Manufacturers $550M 1 Polestar | $550M | Unattributed
5 ▼-1 Music Licensing Marketplace $467M 2 Epidemic Sound | $450M | Series D
6 ▲6 Web Based Platform for Doctor Consultation $413M 4 KRY | $317M | Series D
7 ▲19 Electric Truck Manufacturers $304M 3 Volta Trucks | $260M | Series C
8 ▼-2 Free Float Electric Kick Scooter Rentals $160M 2 Voi | $115M | Series D
9 ▲24 Autonomous Electric Truck Manufacturers $110M 1 Einride | $110M | Series B
10 ▲24 Autonomous Trucks $110M 1 Einride | $110M | Series B

10. Sweden Tech - February 2022 Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
New Analyst Picks (1/2)
Interesting Companies identified by Analysts in Sweden Tech in February 2022
Sweden Tech: Analyst Picks
10
Upgraded to MINICORN
Depict.ai (2019, Stockholm, $150K, Seed)
Provider of AI-based product recommendation
platform for businesses
Tiger Global Management, Initialized Capital, EQT
Ventures and 5 other Investors
Upgraded to MINICORN
Fundler (2015, Stockholm, $6.5M, Series A)
App-based platform for automated retirement and
pension investment management
Added to Editor's Pick
BRANTU (2016, Stockholm, $1.2M, Seed)
E-commerce fashion company
Sawari Ventures,THINK Accelerate,VentureLaband
Added to Editor's Pick
Adnavem (2017, Gothenburg, Undisclosed, Series A)
Online market platform for multi-modal freight
forwarding services
Volvo Group,Runa Capital,Spintop Venturesand
Added to Editor's Pick
Bifrost Wallet (2021, Stockholm, Unfunded)
Mobile-based cold wallet for cryptocurrency
Cherubic Venturesand
Added to Editor's Pick
Abarceo (2017, Malmo, Undisclosed, Grant (prize
money))
Developer of therapeutics for type-2 diabetes and
other diseases
Almi Invest,EIT Healthand
Added to Editor's Pick
Starflow (2016, Stockholm, $2.4M, Seed)
Online platform offering courses on cooking
Speed Ventures, Kichi Invest, Fredrik Wester and 2
other Investors
Added to Editor's Pick
CDLP (2016, Stockholm, $4.8M, Angel)
Internet-first brand offering innerwear for men
Tom Chapman, Cristina Stenbeck, Norrsken Foundation
and 3 other Investors
Added to Editor's Pick
Bemlo (2019, Stockholm, $125K, Seed)
Online job portal for healthcare professionals
Y Combinatorand
Added to Editor's Pick
Kasta (2020, Stockholm, Unfunded)
Online wallet to store, transfer and receive
cryptocurrency

11. Sweden Tech - February 2022 Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
New Analyst Picks (2/2)
Interesting Companies identified by Analysts in Sweden Tech in February 2022
Sweden Tech: Analyst Picks
11
Added to Editor's Pick
Collegial (2014, Stockholm, Unfunded)
Provider of a learning platform for organizations

12. Sweden Tech - February 2022 Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Acquisitions
List of Acquisitions in Sweden Tech in February 2022
Sweden Tech: Acquisitions
12
Acq. Date Company Acquirer Deal Size
01 Feb 2022
Gunnebo Cash Management(2019)
Software for cash management
Sesami
02 Feb 2022
Workspace Recruit(2009, Malmo)
Online platform for diversity recruiting
Poolia $1.9M
09 Feb 2022
NetOnNet(1999, Boras)
Online retailer of consumer electronics products
Komplett Group $415.5M

13. Sweden Tech - February 2022 Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Recent News (1/2)
Recent News in Sweden Tech in February 2022
Sweden Tech:News
13
Exit News
.
● Spotify acquires Podsights and Chartable to advance its podcasting business
The Star Online
.
● Swedish challenger Northmill acquires Zettle-rival MorefloAltFi
.
● Mindler scoops up Finnish mental health tracker Medified Solutions Oy
MobiHealthNews
.
● Devyser Diagnostics Fully Acquires Data Analysis Software Maker SmartSeq
360Dx
.
● Gardaworld Launches Sesami: A Tech-enabled Cash Ecosystem Solution
IntegratorPR Newswire
.
● Balder Makes New Large Company Investments Nordic Property News
.
● Revolutionising online merchandising and product discovery. GP Bullhound
.
● Komplett ASA: Komplett and NetOnNet doubling in size by combining their
businesses Cision
.
Fund News
.
● Sweden's Wellstreet launches $40m fintech fund Finextra
● OvationMR Hires Joe Jordan to Drive Global CX and Innovation PRWeb
.
● Terranet Announces CEO's Termination with Immediate Effect GlobeNewswire
.
● Hexagon announces senior management changes PR Newswire
.
● Hexagon announces multiple strategic organizational changes with focus on
smart digital reality Geospatial World
.
Company News
.
● FDA OKs XVIVO's Kidney Assist Transportmpo-mag.com
.
Regulatory News
.
● Regulator investigation into door and window manufacturer acquisition
TheBusinessDesk.com
.
● US authorities reportedly aware of Ericsson Iraq probe MobileWorldLive
.
● FCA announces changes to 'unfair' BNPL contracts FStech

14. Sweden Tech - February 2022 Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Explore more on Tracxn
Explore more about Sweden Tech on Tracxn Platform
Sweden Tech: Explore more on Tracxn Platform
14
Companies
Recent Companies Covered
Funded Companies
Editor's Pick
Soonicorn Club
SaaS Companies in Sweden
AI Companies in Sweden
Fintech Companies Sweden
Consumer Digital in Sweden
Company Due Diligence
Detailed profile of Neo4j
Competitors of KRY
Cap Tables of Voi
Investment Activity
Recent Investments
Investment Trend of last 10 years
Mega Investments Rounds
Investors
Most Active Investors
Most Active Angel Investors
Unicorn Investors
Exits
IPO'd Companies
Recent Acquisitions
Most Active Acquirers
Recent Acquihires
News & Events
Recent News
News on People
News on Unicorns
Upcoming Events
Library
Recent Reports
Tracxn Blog
Global Sector Landscape

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